Hine Co. a Victim of Economy, Overseas Competition
PEORIA, IL—Overseas competition and the continuously flagging U.S. economy were among the decisions cited by The Edward Hine Co. in deciding to shut down the business, according to the Peoria Journal Star. The firm, which printed brochures and booklets for clients including Caterpillar and John Deere Co., was to sell off its equipment, the paper said.
An executive at Hine told the newspaper that clients had shifted to bidding out contracts on a yearly basis. And as clients developed just-in-time inventories, the long-run capabilities that had long been Edward Hine Co.'s meal ticket soon became its detriment.
The company ran its last job, a calendar, in March. It focused on selling its last two presses since that time. Hine Co. had been a mainstay in Peoria since 1880.
The firm's office furniture and supplies will be sold off this weekend, according to the Journal Star.